Top 12 Insurance Companies in Bangladesh

[Reyed Mia (Apprentice, DIU)]

Top 12 Insurance Companies in Bangladesh

Insurance service in Bangladesh are developing as local people have got more conscious about the security of what they belong. Promising service of some companies has established the trust and people of Bangladesh turn to them on and on with optimism. These are the 12 top insurance companies in Bangladesh.

1. American Life Insurance Co

This is one of the earliest insurance companies in Bangladesh, working from 1952. Even though the concept as well as the company comes from America, they have successfully adopted it to suit the needs and expectations of Bangladeshi people and have reached the top position in the country.

More than a million Bangladeshis depend on American Life Insurance Company (Alico) with thousands of agents working for them, which has also created local jobs. All sorts of insurance plans are available to suit everybody?s need in the society.

2. Jiban Bima Corporation

The words Jiban and Bima mean Life Insurance in Bengali (official language of Bangladesh). This is a state owned insurance company, providing life and other kinds of insurance services to citizens.
Located in Dhaka, Jiban Bima Corporation has branches all over Bangladesh and touches millions of people every day. It has created a wide range of plans to suit people in all economic groups, which has proved to be a big success.

3. Delta Life Insurance Co Ltd

In 1984, Bangladesh Government allowed private sectors in insurance industry, which led to the creation of Delta Life Insurance Co Ltd, started by number of Bangladeshi citizens then working abroad. They started this because they wanted their fellow citizens to get the top class insurance services which are common in western countries.

From their first day, Delta life insurance has been working with the same goal in mind, growing to a large organization today. They have designed plans keeping the expectations of the society in mind, which is the primary reason for their success.

4. Popular Life Insurance Co Ltd

This unique organization started its journey with the goal of reaching every insurable citizen in Bangladesh. There were many companies, but they didn?t have means to reach out to all of them. Popular Life Insurance Co Ltd achieved this by designing unique schemes and campaigns to bring everyone under their protection.
They achieved this by providing number of schemes which focused on the direct benefits. They indirectly provided the protection which is the essential reason for doing insurance. Hundreds of agents are working with public directly to ensure the movement is constantly moving forward.

5. Shandhani Life Insurance Co Ltd

This organization is operating for 25 years, creating a change in the society by their ?micro insurance? segment. People or the general consumers may not buy insurance mainly due to cost. Shandhani life insurance approached them with smaller policies which are a good start, and would bring them to the regular fold, as they grow socially and economically.

With this focus, Shandhani Life Insurance Co Ltd reached out to hundreds of thousands of poor people, while keeping the focus on big customers as well. This approach has helped this company to reach the top position with a great impact on the society.

6. Meghna Life Insurance Co Ltd

This company was started by many Bangladeshis who wondered if they can participate in the growth of the nation. They decided a life insurance company would be the ideal start and with their dream, Meghna Life Insurance Co Ltd was born in 1996. They focused on providing services at the right price, with modern facilities.
Their efforts, in the next decade, brought this company to a great reputation in the country. They work with people from all backgrounds and provide services to all kinds of individuals and corporate organizations.

7. Takaful Islami Insurance Ltd

Being an Islamic country, Bangladesh?s needs with respect to any investment may be guided by their religious principles too. Hence, most insurance companies provide policies keeping this in mind and Takaful Islamic Insurance Ltd specializes in providing unique schemes, which are Islamic in nature.

This company operates in both life and nonlife sectors. It has established a very effective network to work with the entire nation via its officers. This works particularly well in the individual insurance policies.

8. Pragati Insurance Co Ltd

This is a leading non-life insurance company in Bangladesh. It provides schemes such as Mediclaim Insurance, Accident Insurance, Building Insurance, Factory Based Insurance, Aviation Insurance, Home Insurance etc. Based on the type of the insurance and the way Bangladesh culture sees it, they have designed their policies so that it is accepted well. Their success journey is a proof to this.
Today, the company has reached a top position by getting a credible rating by number of financial analysis companies. They invest in the right areas to improve their value to investors. As a result, it has grown to a top position in the country.

9. Padma Life Insurance Co Ltd

This is another Islamic insurance company in Bangladesh with a great track record and success. It focuses on Life insurance segment, earning the confidence of Bangladeshi public from all walks.

Their plans are designed keeping the security as well as growth aspects in mind. Depending on the need of the customer, they will be able to choose the best one that suits them and get maximum returns.

10. Sunlife Insurance Co Ltd

Started by businessmen from various fields, this company focuses on customer security and benefits from 2000. They went public in 2012 and today, operating as one the top insurance companies in Bangladesh.

Specialty of this company is its focus on even the smallest member of the society. Their officers work with all kinds of people to ensure they are sufficiently protected. This has brought a social change, as well as a successful company.

11. Golden Life Insurance Co Ltd

This company splits its services into two parts, macro insurance and micro insurance. Based on the needs of its customers, it selects the right scheme. This approach has given them great many opportunities to grow with full support of public.

Headquartered in Dhaka, Golden Life Insurance Co Ltd has branches all over the country and the officers of the company work directly with public to educate them about their insurance needs. This direct approach is the primary reason for Golden Life Insurance Co Ltd growing to the top position in Bangladesh.

12. Rupali Life Insurance Co Ltd

Established in year 2000, this company has grown from a small position to a large success, mainly due to its strong backbone support from investors and the passionate work from agent officers. Their schemes are designed to suit the segments they work on, which has connected well with the customers.
They focus on promoting local talent. This ensures that the representatives of Rupali Life Insurance Co Ltd will never be a stranger to the potential prospects. This approach has created jobs for the country and helped many people stay protected helping the society.

As their vision statement says, they want to be the ?best life insurance company of choice among Life Insurance Companies?. This goal is the primary motivation for their staff, resulting in this success. On the process, they have ensured financial security for hundreds of thousands of Bangladeshi citizens.

Sources: http://www.yourarticlelibrary.com/countries/bangladesh/top-12-insurance-companies-in-bangladesh-with-pictures/34413/